Summerset lifts full-year guidance as resales, new sales stay strong

Tue, 19 Dec 2017

By Rebecca Howard Dec. 19 (BusinessDesk) - Summerset Group lifted full-year earnings guidance on strong resales volumes and margins as well as good margins on new occupation right sales. The Wellington-based retirement village developer and operator expects underlying profit to be in a range of $77 million-to-$79 million in calendar 2017 versus prior guidance of $72 million-to-$75 million, it said in a statement. That represents an increase on the previous year’s underlying profit of between 36 percent and 40 percent, it said. The grou...

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